Online Music Education Startup Spardha Raises INR 8 Crore In Pre-Series A2 Funding
The fund raised will be utilized in expanding sales and operation teams along with product upgradation, brand building and marketing
Spardha, an online music and performing arts platform, has raised INR 8 crore in pre-Series A2 funding round led by Inflection Point Ventures (IPV). The round also witnessed participation from Mumbai Angels and We Founder Circle. The fund raised will be utilized in hiring talents, expanding sales and operation teams along with product upgradation, brand building and marketing.
"In the last 12 months of journey with IPV, we received seamless support across various critical functions like branding, marketing, product development and execution from IPV. I would like to thank IPV team for helping Spardha grow manifold and to expand globally in the last 12 months," said Saurabh Srivatsav, founder and CEO, Spardha.
Spardha is a digital training platform that enables personalized musical journeys for different student personas in a seamless classroom experience virtually. It is rapidly expanding to US, UK, Australia, Canada and UAE. The platform has also increased the revenue by ten times in the last 14 months and has also registered around over 400 freelance teachers in India to support its global delivery model, the startup claimed in a statement.
"Spardha, with its digital training platform, has been successful in catering to the need of music loving audiences across age groups starting as early as 5 for beginners to advanced levels of any age. IPV aims to further extend our support to help them achieve their goals," said Ankur Mittal, co-founder, IPV.
Founded in 2016 by Saurabh Srivatsav, Amrita Srivatsav and Rikhil Jain, Spardha is building a curated curriculum for different student personas, proprietary system to develop professional teachers at scale and personalized musical journeys for every student. They have designed a digital ecosystem where students can not only learn music but also can practice, perform, compete, collaborate and compose music all at one place.
As per reports, the industry has a huge untapped potential where total addressable market is expected to rise at $75 billion by 2025. The sector is growing globally at a CAGR of 18.68 per cent in the forecast period.